Frequently asked questions relating to the Aviva Equity Release Solicitor Panel from members of the public
My fiance and I are buying a 3 bedroom apartment in Hackney with a mortgage from Aviva Equity Release. We like our solicitor but Aviva Equity Release says he's not on their "panel". It seems we have little choice but to instruct one of the Aviva Equity Release panel solicitors or keep our solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Aviva Equity Release use our lawyer?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the Aviva Equity Release conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Aviva Equity Release
My son-in-law is purchasing a house that has just been built with a home loan from Aviva Equity Release. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Aviva Equity Release conveyancing panel as a standard part of the process, and to the surveyor when asked.
The Developer will be required to start the process by downloading the form and completing it.
The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Aviva Equity Release conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am Googling for conveyancing quotes online. Can I be sure that all the firms that are listed on your website are on the Aviva Equity Release conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the Aviva Equity Release panel and agreed to advise us to take down their listing in the event of removal off of the Aviva Equity Release panel. To date we have not been informed by either a bank or a member of the public that the data about a specific firm being on the Aviva Equity Release conveyancing panel is not accurate.
We're in London, First timers purchasing with a mortgage (lender is Aviva Equity Release , but our lawyer is on the Aviva Equity Release conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aviva Equity Release conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
How can we tell if a solicitor on the Aviva Equity Release panel is any good?
seeking recommendations is a good start. Before you go ahead check if they offer a no sale no fee offer. Also you often get what you pay for - a firm which quotes more will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the solicitor handling your conveyancing
I was told two weeks ago that my mortgage has been agreed
to by Aviva Equity Release. Is it usual for Aviva Equity Release to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Aviva Equity Release to deal with your lawyers application to be on the Aviva Equity Release conveyancing panel. There's no guarantee that your solicitors will be accepted.
My ex -wife’s name is on the Aviva Equity Release mortgage of my property but not on the land registry. The apartment was transferred to me on our divorce many years ago by way of a sealed court order. Does my ex still have a say on the sale even though the land registry showing the property in my name alone? Will I be required to take her name of the Aviva Equity Release mortgage in order to sell?
In terms of the Aviva Equity Release mortgage, it is unusual that your ex-wife’s name remains on the mortgage but not on the title. It is conceivable that this is an oversight on the part of your conveyancers to ensure that her name was removed or even an administrative error on the part of Aviva Equity Release in failing to update their data. In any event, it should cause difficulty providing her name no longer appears on the Land Registry title and you have a court order ordering that the property is transferred to you.